"We have been informed by Kingboard Laminates Holdings Limited, a controlling shareholder of the Company, that it has today, through its indirect wholly owned subsidiary, Kingboard Laminates Limited,
purchased a total of 40,279,700
shares for a consideration ranging from S$0.40 cents to S$0.45 cents per share, constituting in aggregate 5.575 percent
of the total issued share capital of the Company."

This stock has moved up and up to 50 cents, much higher than the 40-cents privatisation offer made in April 2017. It was a joke and the wise independent financial advisers and company independent directors advised shareholders to reject the takeover-cum-privatisation offer at S$0.40 a share. And they said it was "not fair and not reasonable".